India's exploration policy unlikely to act as a big boost

Apr 12: A prestigious internal journal has come to the conclusion that India's boost to exploration policy may in fact not pay off8It says that India is pursuing a new policy to boost exploration and production, but there are doubts as to whether it will make much of a difference, given the country’s huge population, its rapidly growing economy and its relatively meager endowment of oil and gas resources.8It quotes BP chief BP CEO Bob Dudley, who said that whole he was “very encouraged” by the new policy, he would like additional assurances from the government before making a decision on additional investment in gas resources off India’s eastern coast, where it is working with local partner Reliance Industries.8Similarly, Sarah Ladislaw, director of the Energy and National Security Program at the Center for Strategic and International Studies in Washington, said the new HELP policy is likely to have only a modest impact at best.Click on Reports for more